10 Most Affordable Places To Live In Colorado: Study

Many Coloradans are analyzing their finances amid the coronavirus pandemic, as the health crisis takes its toll on the economy. A new study ranks the top places in Colorado for affordability, and it may come as no surprise that the rural folks are getting the most bang for their buck.

The sixth annual SmartAsset study analyzed taxes, homeowners' insurance and home costs relative to the local median income. Places where home ownership costs were lowest relative to the median income were considered the most affordable.

Top 10 most affordable places in Colorado:

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In SmartAsset's national study, Federal Heights was ranked No. 6. The top five most affordable U.S. places:

1. Pecos, Texas

2. Sumner, Illinois

3. Kermit, Texas

4. Monohans, Texas

5. Glasgow Village, Missouri

The study included cities with populations of more than 5,000. Analysts then measured the total cost of owning a home, using the average home cost in each city over a five-year period.

Read the full SmartAsset report here.